Singapore private property: S$1000/sqfeet bar? S$1M bar?
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tree nymph:
That was in 1998 and 1986........
The px were at its peak in these two yrs. If you see, it seems that every 10 yrs or so, the property px reaches its peak. -
lovekidsverymuch:
Yes no one can forget 98 yr that was during the HK boom
There is always a reason for boom. Now is the IR boom. The property goes up, next Gov step in and curb, then big boys sell and take profit, lastly the small boys got stuck with what they bought at high and work for the rest of their life to service the instalment and the cycle will go on. -
lovekidsverymuch:
That could be true too. But no one know for sure. We can only sideline talk.KSP:
There is always a reason for boom. Now is the IR boom. The property goes up, next Gov step in and curb, then big boys sell and take profit, lastly the small boys got stuck with what they bought at high and work for the rest of their life to service the instalment and the cycle will go on.
True but I guess this whole year is gonna be high... dont think property will drop a lot but might never know next yr.. as u know so many other things also coming up then also youth games too all supporting the ecconomy!! -
KSP:
That could be true too. But no one know for sure. We can only sideline talk.
Yep, it's anyone's guess which way it'd go...mebbe another Lehman-like flight for banks supposedly too big to fail....then the prices will tank. And people too scared to punt
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$1000 psf for non-prime residential units … 40k to 50k COV … I also think market "siao" liao. Waiting to see what happens when the interest rate goes up <OUCH>.
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how i wish i have a crystal ball so i can time my purchase. I need to buy a place for own stay, but also cannot afford to buy too expensive and still need to be near to my kids’ school. headache! $1000psf!! no joke! I think i got to slog for 40 years to pay back that kind of loan (dont’ think the loan will get approved anyway!)
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This property thingy is getting out of control.
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We have to buy a bigger place as in laws are going to stay with us. But this is not the right time to buy. Need to get one by end of the yr or squeese 5 adults & 3 children in a 3 room flat.
Hope govt can do more to stop this & make it affordable to us. -
I for one am hoping that prices take a deep dive this year!! Been hoping to buy something but prices way beyond my reach. Sigh. . .
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It’s never good to hope for "massive" dives (or ups for that matter). Any great volatility will have knock on effects on others. If property prices wre to plunged severely, it also mean negative for other sectors as well, and in turn we will also be affected too, one way or another.
Best times are stable and gradual increase.
After all these years, I (believed) have learnt that one must lock-in for property, and hedge against price movements, as salaries/incomes would not be able to match the increment in asset values (for most people anyway)
So my advise to people has always been, don’t wait for the ideal to come along. Something that’s good enough for the current purpose will do. However small it maybe. Lock-in and hedge. After all, most of us will move around within our lifetime. As we move on in life, and hopefully be more affordable, we will get closer to our ideal home (and hopefully the last).
And just as important is timing. Like all things, property has cycles too. But if you observe, the long term trend (like shares) is on the rise i.e. current high point will be higher than the last high, and the current low point will be higher than the last low too.
As an example, current prices may still move onto say $1,300psf in the future, and then corrects to say $1,000psf - at this point it may well be a new low. Over time, it will creep up again to may be $1,800 before it corrects again.
So by not buying in at $1,000psf, hoping for $800psf will entail you agoninsing over the next cycle bringing the price up to $1,800psf.
(I must be having speech diarrhea)
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